Skip to comments.Gallup: U.S. Job Creation Index Dips to 11-Month Low in January 2013
Posted on 02/06/2013 8:36:30 AM PST by SeekAndFind
The Gallup Job Creation Index averaged +16 in January, the lowest monthly index level in 11 months, after one-percentage-point declines each month since November 2012. Despite this, the index remains fairly high relative to the past four years.
January's results are based on 32% of U.S. adult workers saying their employers are hiring and expanding the size of their workforces, and 16% saying their employers are letting workers go and reducing the size of their workforces.
Both components of the index are down slightly from December. However, the two-point decline in hiring, from 34%, exceeded the one-point decline in workers' being let go, resulting in the one-point drop in the overall index.
January also saw the continuation of a decline in hiring in the federal and nongovernment sectors of the economy, a trend that started in November. At the same time, hiring reported by state and local government employees has been fairly steady at the highest levels in more than four years.
As a result of these shifts, the jobs climate appears to be equalizing across the private sector and state and local governments, while hiring by the federal government has become more of an outlier as it has increasingly contracted.
(Excerpt) Read more at gallup.com ...
It’s important to remember that the whole matter of “Job Creation”, easily the favorite employment statistic of the Left, is a complete red herring. At best, it’s only one side of the equation; the other side includes people who have lost their jobs, officially stopped looking for work, etc.
The most useful measure of employment, the Labor Force Participation Rate, continues to go nowhere but down, to levels not seen in 30 years. You’ll never hear a liberal talk about that.
No problem. Obama has a speech for this: “It’s the GOP’s fault.”
Obama is following the pattern set by corporate “leaders” who’s #1 priority is to stay one job ahead of their past mistakes. Rob from the future, eat your seed corn, etc - just do whatever it takes to show “progress” month/quarter over month/quarter. It’s sad that the American people have become so gullible, stupid, or apathetic that they don’t instantly ask the question “what about the other side of the equation” whenever this crap is presented.
It reminds me of the great old George Carlin “Wonderful WINO Radio” bit, where he says “And now for a partial score: San Diego 10”....
I see upon looking at the graph in the article (it took forever to load) that this is the Jobs Created Index, not Jobs Created. The distinction is important — this Index does take into account businesses laying off workers, so it’s a more valid number by itself than what I was talking about.
And that doesn’t look good either. It’s getting into the range that was the free-fall of 2008.
Agree and his idea of a job is looking for a job.
Scary chart here: http://data.bls.gov/timeseries/LNS11300000
This was expected, right?
“This was expected, right?”
Well, I didn’t see ‘unexpected’ or ‘unforseen’ anywhere, so I guess so.
There is no point in any charades for the next 3.5 years or so...most people don’t understand this stuff anyway. So move along, nothing to see here...